AES Panama Announces Results of Its Consent Solicitation to the Holders of Its 6.35% Senior Notes Due 2016

PANAMA CITY, Aug. 19, 2014 /PRNewswire/ -- AES Panama, S.A. (the "Company") announced today that it has received the requisite consents from the holders of a majority in principal outstanding amount of its 6.35% Senior Notes due 2016 ("Notes") as of 5:00 p.m., New York City time, on August 19, 2014, pursuant to the Company's previously announced consent solicitation ("Consent Solicitation") dated August 5, 2014.

As a result of receiving the requisite consents, the Company will execute a supplemental indenture to the indenture governing the Notes and pay the consent fee (the "Consent Fee") of US$2.50 in cash for each US$1,000 in principal amount of the Notes to the consenting holders on August 22, 2014.

Scotia Capital (USA) Inc. acted as the solicitation agent with respect to the Consent Solicitation.

This press release is for informational purposes only and is not a solicitation of consent with respect to the Notes or any other securities. The consent solicitation has been made solely pursuant to the Notice of Consent Solicitation, which sets forth the complete terms of the Consent Solicitation.

About AES Panama

The Company is the largest electricity generation company in Panama both in terms of installed capacity and average energy dispatched, as well as the largest hydro privately controlled generation company in Central America, based on information provided by the National Dispatch Center (Centro Nacional de Despacho), a dependency of the Electricity Transmission Company (Empresa de Transmision Electrica).

Forward-Looking Statements

This press release may contain forward-looking information and statements regarding the Company and the Consent Solicitation. Any statements included in this press release that address activities, events or developments that the Company will or may occur in the future are forward looking statements, these include among others, statements as to: (i) the expected payment of the Consent Fee and (ii) the anticipated incurrence of new Indebtedness. Actual results may differ materially due to a variety of important factors, such factors might include: changed market conditions, changes in the exchange rate of the Panamanian balboa against the U.S. dollar, the participation of and level of participation by the holders in the Consent Solicitation and other factors listed in the Notice of Consent Solicitation under "Statement Regarding Forward Looking Statements." Except as required by law, the Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change. Do not place undue reliance on forward-looking information.